Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in ...

Accounting systems and accountants must follow a set of principles called generally accepted accounting principles, commonly referred to as GAAP. These principles define the way certain transactions ...

Accounts payable is a financial accounting term that refers to the current liabilities of a company for any outstanding obligations they have to another party. This generally occurs when the business ...

Set up an accounts payable process to ensure vendors are paid on time, reduce duplicate payments, and maintain accurate financial records for your business.

Accounts payable is an entry in a company's general ledger representing what it has to pay to vendors or creditors in the short term. Because the accounts payable section of a company's ledger ...

What is an Account Payable? The amount a company owes to vendors or suppliers in the short-term for goods or services the company received on credit. An account payable (AP) is a balance shown on a ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

Business fraud is real. According to a report by the Association of Certified Fraud Examiners, “U.S. Businesses will lose an average of 5% of their gross revenues to fraud.” One of the most common ...

Payments for services to U.S. independent contractors, other individuals, or unincorporated businesses of $600 or more in a calendar year are reportable to the IRS on a 1099 form. Any payments for ...

Accounts payable (AP) refers to the amount of money a business owes to its suppliers or vendors for goods or services received but not yet paid for. These are short-term liabilities that need to be ...

Here are the most frequently asked questions about reimbursements and payments. Does Accounts Payable issue checks for all reimbursements? Employee reimbursement requests below $50 should be submitted ...